Can markets hold after report shocker?

Can markets hold after report shocker?

Wheat tries to prove turnaround wasn’t a fluke. (Video report)

Grain futures are little changed this morning as the market digests the fallout from Thursday’s USDA reports. While corn tries to prove a cycle low is in after posting new contract lows, soybeans fight to avoid follow-through weakness from bulls caught leaning the wrong way. Wheat got the only real bullish news out of the data dump yesterday, but not must show there’s reason to believe its prospects have really improved.

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Bryce Knorr first joined Farm Futures Magazine in 1987. In addition to analyzing and writing about the commodity markets, he is a former futures introducing broker and is a registered Commodity Trading Advisor. He conducts Farm Futures exclusive surveys on acreage, production and management issues and is one of the analysts regularly contracted by business wire services before major USDA crop reports. Besides the Morning Call on he writes weekly reviews for corn, soybeans, and wheat that include selling price targets, charts and seasonal trends. His other weekly reviews on basis, energy, fertilizer and financial markets and feature price forecasts for key crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association.

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